So scientific performance evaluation of stock open-end fund and finding out all the factors that affect performance of stock open-end fund have a great significance for fund investors.
因此，科学合理地评价股票型开放式基金业绩并分析其影响因素，对投资者来说至关重要。
Therefore, the good or bad management of open-end fund risk not only affect the fund's performance, affecting the interests of fund holders, but also affect the operation of the financial system.
因此开放式基金风险管理的成效不仅影响基金的业绩，影响基金持有人的利益，还会影响金融体系的运行。
Therefore, the study of China's open-end fund risk and its prevention is of great practical significance.
因此，研究我国开放式基金的风险及其防范，具有重要的现实意义。
The second part is the analysis of liquidity risk of open-end fund.
第二部分是开放式基金流动性风险分析。
With the analysis under the incomplete contract theory and principal-agent theory, there is no such an optimum governance structure for open-end fund either contract style or corporate style.
从不完全契约理论和委托代理框架的视角分析开放式基金治理结构，可以得出不存在最优的治理结构的结论。
On the other hand, commercial banks' active involvement and strong support naturally becomes the crux of the smooth operation of open-end fund.
而商业银行的积极介入和大力支持也成为开放式基金顺利运作的关键。
Above all, conceive the system for open-end fund performance appraisal.
并在此基础上，构建我国开放式基金绩效评价体系。
In this case, through the study of stock index futures to guard against the risk of open-end fund in China is of great realistic significance.
在这种情况下通过研究股指期货来防范开放式基金的风险，在我国具有重要的现实意义。
Based on chapter 1, the following three chapters study open-end fund liquidity risk management in terms of assets, liabilities and policy separately.
在第一章的理论基础上，后三章从资产、负债和政策三个角度来研究开放式基金流动性风险管理。
The conclusions of this empirical study are as the following:the introduction of open-end fund has served to stabilize the Chinese stock market and reduce the volatility therein.
本研究的实证结果认为：开放式基金的推出，对中国股市确实起到了降低波动性、稳定股市的作用；
Therefore, it is necessary to rebuild an open-end fund consignment system.
因此，重新构建开放式基金代销系统势在必行。
These years, in terms of quantity or size, the open-end fund has gradually replaced the closed-end fund and become the mainstream variety of Chinese fund market.
近年来，我国开放式基金无论在数量还是规模上都逐渐取代了封闭式基金，成为基金市场的主流品种。
In the thesis, the methods of volatility research on open-end fund market are introduced firstly and GARCH models are well discussed.
本文首先回顾了开放式基金市场波动性研究的方法，详细讨论了GARCH类模型。
In the thesis, the methods of volatility research on open-end fund market are introduced firstly and GARCH models are well discussed.
本文首先回顾了开放式基金市场波动性研究的方法，详细讨论了GARCH类模型。
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